UPDATE: Goldman Sachs Reiterates Buy Rating, Raises PT on Mosaic Co. on Favorable Leverage, Prospects

In a report published Monday, Goldman Sachs analyst Adam Samuelson reiterated a Buy rating on Mosaic Co.

, and raised the price target from $68.00 to $73.00. In the report, Samuelson noted, “We maintain our Buy ratings on MOS and POT, where we see a favorable combination of leverage to improving export market fundamentals in phosphate (P) and potash (K) and prospects for accelerating cash return to shareholders through 2013. In K, contracts with India and China suggest strong volume momentum in 2Q and modest 2H price increases. In P, return of Indian import demand in the next 1-2 months should drive improved pricing.” Mosaic Co. closed on Friday at $59.71.